Spring Water Market

Spring Water Market Size, Share, Growth (2023-2028)

Spring Water Market share value in 2022 was 229.03 billion, and it is expected to grow at a CAGR of 8.70% during the forecast period 2023-2028 to reach USD 377.81 billion by 2028.

Spring Water Market Overview:

Spring water exists underground in an aquifer that sits at or below the earth’s water table. This water is frequently thought of as having undergone pre-purification because it has gone through natural filters like limestone, sandstone, and clay. Compared to normal water, spring water has more dissolved minerals. Reverse osmosis, ultraviolet, ozone, and filtration are used to clean and disinfect spring water before it is packaged for consumption in bottles, pouches, plastic, and glass. This is done to make sure that it meets the strict safety standards set by the Food and Drug Administration (FDA) and Environmental Protection Agency (EPA). After all these approvals, the water is bottled and then sent to sell.

Spring Water Market Drivers:

The increase in the prevalence of water-borne diseases such as diarrhea, giardiasis, dysentery, typhoid fever, E. Coli infection, and salmonellosis is fuelling the demand for the spring water market. Neurological disorders, reproductive issues, etc., are increasing due to the consumption of contaminated water. This has increased the demand for clean and safe water. The spring water is healthier than normal water. Additionally, vital nutrients like calcium and magnesium that are crucial for the health of bones can be found in spring water. Drinking pure spring water can help in good digestion and the removal of toxins from the body. The human body's cells are oxygenated by spring water, which helps to keep the pH levels in check. According to a recent study, those who have been abusing heroin, cocaine, or alcohol for a long time typically do not want to drink water. Their addictions were lessened with the increased consumption of high-quality spring water. For those who are dependent on nicotine, caffeine, or salt, the same treatment is applicable.

The increase in health awareness across the globe is fueling the demand for the spring water market. Spring water is a more safe, convenient, nutritious, and refreshing beverage. They consume water that is calorie-free and excludes any artificial components. The increase in continuous development and increase in disposal income is increasing the demand for spring water market growth. Spring water is free of contaminated materials, as it comes from the natural source of purification. This spring water is more pure and safe when compared to the drinking water. Pure spring water is constituted of high minerals. These minerals are very healthy for the human body. The neutral or slightly alkaline pH of spring water helps to balance the body's acidity and guard against free radical damage.

Spring Water Market Restraints:

Despite the health benefits associated with the consumption of spring water, the high cost of spring water is one of the major restraining factors to the spring water market growth. The average price of spring water in bottles is $9.47 per gallon, whereas the price of tap water is $0.005. Because of this, bottled water can be up to 2,000 times more expensive than tap water. Additionally, various consumers don’t like the flavor, color, and odor of the spring water. This decreases the demand for spring water, leading to a decrease in the spring water market growth. In addition, the increase in awareness regarding the environmental issues caused by the plastic that is used for the packaging of spring water hinders market growth. With the significant energy requirements for water extraction, processing, and bottling, environmentalists are putting more pressure on manufacturers of bottled water to change their industrial practices. Spring water market growth is expected to be restricted over the projection period due to the environmental harm brought on by incorrect spring plastic bottle disposal, which adds another layer to the issue. These are the restraining factors to the spring water market growth.

Spring Water Market Opportunity:

The increase in demand for spring water in various restaurants, cafes, and hotels is creating opportunities for the spring water market growth. This is due to an increase in visits of consumers to hotels, cafes, and restaurants, which leads to an increase in demand for spring water markets across the globe. Bottled spring water is becoming more and more popular as a result of expanding travel and tourism activities due to its convenience, health benefits, and portability. Lack of safe drinking water in some areas, there is a greater need for safe and healthy water, which is boosting the sales of spring water. Manufacturers of spring water claim that their bottle' seals protect water against bacterial contamination irrespective of how long it has been stored. Across the world, people are showing interest in spring water that is healthy and also consists of various minerals. The spring water market is increasingly focusing on creating enhanced and new water products while making sure to maintain the essential qualities of naturalness and hydration of traditional plain water. This is increasing the growth of the market.

Impact of COVID-19 on the Spring Water Market:

The pandemic impeded the growth of the spring water market shares as spring water manufacturers closed their units because of the lockdown imposed by the government. This resulted in a decrease in the production of spring water market growth. Additionally, the cafes, restaurants, and hotels were closed to avoid the spread of the virus, which decreased the demand for the market. However, after the initial phase of the pandemic, all the restaurants, cafes, and hotels were opened, which increased the market demand. After the pandemic, the consciousness towards a healthy lifestyle has increased, fuelling the spring water market. 

Key Developments in Spring Water Market:

• In December 2022, Kristal Kola (Kristal) is set to launch the Turkish market’s first spring water in cans, delivering a sustainable product in sustainable packaging with powerful messaging to match.

Spring Water Market Segmentation

By Packaging type,

• Bottled

• Canned

Among these, the Bottled segment dominates the spring water market. The Shelf life of bottled water is high unless they are opened from their packaging. The increase in consumer awareness regarding the health benefits offered by the consumption of spring water. Additionally, the increase in disposal income and increase in per capita income is increasing the demand for bottled spring water. Additionally, the increase in demand for water that consists of various vitamins and mineral-rich drinking water increases the demand for spring water, increasing segmental growth. The canned segment is expected to show the fastest CAGR growth in the spring water market growth over the forecasting growth.

By Distribution Channels,

• Hypermarkets/Supermarkets

• Specialty Stores

• Online Retail

Among these, the hypermarkets/supermarket segment dominates the spring water market share due to a huge selection of consumer goods and food and beverage products. It operates at times that are suitable and in an area that is simple to get to. It has a sizable customer base and consistently generates income for market participants. The specialty stores are expected to show the fastest CAGR growth in the spring water market over the forecast period.

Spring Water Market Regional Analysis:

• Asia Pacific

• Europe

• Middle East and Africa

• North America

• Latin America

Regionally, the North American region dominates the Spring Water Market size owing to the increase in popularity of healthy lifestyles. The high demand for spring water is further fueled by vigorous exercise and other physical and outdoor activities. Additionally, the North American spring water market in the United States had the highest share, while the market in Canada had the fastest growth rate.

The European region is expected to show the fastest CAGR growth in the spring water market growth over the forecast period due to an increase in health awareness among consumers and an increase in the demand for spring water. During the forecast period, the spring water market is anticipated to develop significantly due to the increasing percentage of health-conscious customers and the rising use of packaged drinks. In addition, Germany had the largest market share in this region, while the UK's market was growing at the fastest rate. The Asia Pacific region is expected to show moderate growth over the forecasting period due to the large population base and rise in illnesses and health-related cases caused by drinking contaminated water.

Spring Water Market Key Players

1. Danone

2. Orient Beverages Pvt. Ltd.

3. Mountain Valley Spring Water

4. Nestle S.A.

5. CG Roxane, LLC

6. Tata Consumer Products Limited

7. Coca-Cola

8. Pepsico, Inc.

9. 3 Spring Water

10. Ten Spring Water.